CIMdata PLM Industry Summary Online Archive
May 29, 2007
Implementation Investments
BP Licenses AspenTech's aspenONE® Process Engineering Suite
Aspen Technology, Inc. announced a six-year license agreement with BP for the aspenONE Process Engineering application suite. The new agreement extends BP's commitment to AspenTech's engineering solutions for process simulation, design and performance optimization across its Exploration & Production, Refining and Aromatics & Acetyls businesses. The company uses the applications to optimize the design and efficiency of production processes at new plants and in existing facilities worldwide.
"BP intends to continue its use of the AspenTech Engineering software," said Paul Maslin, Technology Vice President at BP. "Over the past few years this technology has delivered significant value in many areas of our business to improve operational efficiency and provide assurance on design of new plant."
The aspenONE Process Engineering suite is an integrated set of applications which enables engineers to enhance the speed and consistency of their simulation, costing and sizing activities, thereby delivering increased productivity and improved design quality. By providing insights into plant and equipment behavior for optimal decision-making, the applications help companies to reduce capital and operating costs, and increase engineering efficiency and quality.
"BP's continuing commitment to our aspenONE engineering solutions is a reflection of the value that these integrated applications can deliver to leading process companies throughout the plant lifecycle," said Manolis Kotzabasakis, Senior Vice President, AspenTech. "Our aspenONE Process Engineering application suite helps companies streamline their engineering workflows and establish best practices across their organization based on consistent data and processes."
License revenue from this transaction was recognized in AspenTech's fiscal quarter ended December 31, 2006.
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